SG Morning Highlights | Commodities Could Pull Back More This Year as Supply Outpaces Demand Growth
Good morning mooers! Here are things you need to know about today's Singapore:
●Singapore shares opened higher on Thursday; STI up 0.26%
●Commodities could pull back more this year as supply outpaces demand growth
●Stocks to watch: IReit Global
●Latest share buy back transactions
-moomoo News SG
Market Trend
Singapore shares opened higher on Thursday. The $FTSE Singapore Straits Time Index(.STI.SG$ gained 0.26 per cent to 3,166.87 as at 9.09 am.
Advancers / Decliners is 71 to 68, with 85.18 million securities worth S$197.19 million changing hands.
Breaking News
After a stellar year in 2022, commodities could likely book a weaker performance this year on the back of factors such as the strengthening US dollar, greater stability in supply and weakening demand.
Commodities were the best performing asset class in 2022, rewarding investors with solid returns across the board. This was driven by renewed demand amid the gradual easing of Covid-19 restrictions across different countries.
But on a year-to-date basis, several commodities have booked declines. Sabrin Chowdhury, head of commodities analysis at Fitch Solutions unit BMI, said commodities "now bag the title of the worst performer in 2023 thus far".
Stocks to Watch
$IREIT Global EUR(8U7U.SG$: The Europe-focused real estate investment trust is acquiring a portfolio of 17 retail properties located across France for about 76.8 million euros (S$112.2 million).
Latest Share Buy Back Transactions
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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